Riyadh – Sharikat Mubasher: Saudi Investment Minister Khalid Al-Falih said the Kingdom’s economy has grown by a cumulative 80% since the launch of Vision 2030, despite global challenges such as the COVID-19 pandemic.

Speaking during a meeting with private sector representatives, Al-Falih highlighted that most investments driving Saudi Arabia’s economic growth have come from the private sector, not only from the government’s trillion-riyal budgets. He noted that private sector investments now account for around 30% of total investments, equivalent to SAR 1.3 trillion.

The minister added that the private sector’s contribution to GDP has increased from 40% in 2016 to 51% today and is expected to reach 65% by 2030. He emphasized that one of the key challenges ahead is accelerating the sector’s output from SAR 2.3 trillion currently to SAR 2.5 trillion.